Moody's Investors Service Withdraws Ratings of Kyivstar
8 June 2008
Moody’s has withdrawn its ratings of Kyivstar GSM as it believes it lacks adequate information to maintain the ratings. The ratings withdrawn are: – Ba3 Corporate Family Rating; – Ba3 rating of the USD 175.0 mln 7.750% senior unsecured Loan Participation notes due April 27, 2012; – Ba3 rating of the USD 266.42 mln 10.375% senior unsecured Loan Participation notes due August 17, 2009. Oleksandr Klymchuk: This expected move found very little reflection on the market: z-spread of the longer notes widened by 10 bps up to 150 bps (which is still close to historic lows), while the z-spread of the shorter notes narrowed by 5 bps.
